M1Q2

Alwar Brothers is a small, family-owned business that produces animal feed for dairy farms. The administrative offices and manufacturing plant of Alwar share the same building. Financial records provided by the company for the most recent fiscal year show the following (all amounts in thousands of dollars): Notes: A. 80% of this amount is for the factory. B. 85% of this amount is for the factory. C. 50% of this amount is for the factory. Required: a. Prepare a cost of goods sold statement. b. Prepare an income statement. Complete this question by entering your answers in the tabs below. Prepare a cost of goods sold statement. Note: Enter your answers in thousands of dollars rounded to 1 decimal place (i.e., 234,100 should be entered as 234,1). Prepare an income statement. Note: Enter your answers in thousands of dollars rounded to 1 decimal place (i.e., 234,100 should be entered as 234.1 )